Branded fashion company takes on new assets with business acquisition.
Global Brands Group subsidiary GBG USA has acquired hosiery designer and manufacturer PS Brands for a total consideration of $130 million.
PS Brands (traded as Planet Sox) holds a number of licensed and owned brands across multiple categories including socks, legwear, baby shoes and related accessories. Its portfolio of licenses includes Disney, Nickelodeon, Hasbro, FILA, Head Sport, Kate Spade, Nanette Lapore and Kensie that feature on products distributed across multiple channels from mid-tier to better department stores, mass, athletic footwear chains, specialty stores and off-price retailers.
The acquisition will bolster GBG’s licensed sock market in North America, accelerate the growth of its licensed brand platforms and increase its depth of product categories and opportunity for current licenses.
The deal closed Nov. 5.